We need to note that in manufacturing each operation on a product adds value to the product, i.e., addition of an operation adds value. However, this is not the case of IT. Subtraction adds value to IT. More you subtract, more value you add. Subtraction finally leads to generation of small but vital data.
Moreover, Pareto analysis or 10/90 rules are equally applicable to the data world. This leads to arriving at small data from a big data. Converging to a small data from the population is the heart of the matter, the worthy task, the key.
Regards,
Dr. P H Waghodekar, PhD (Egg), IIT,KGP, IE&M, 1985,
Advisor (HR), IBS & PME (PG)
Marathwada Institute of Technology,
NH 211, Beed by pass road,
Aurangabad: 431010 (Maharashtra) INDIA.
(O) 02402375113 (M) 7276661925
E-Mail: waghodekar@rediffmail.com
Website: www.mit.asia
and
Chairman, Advisory Board, MTC Global, Bangalore.
Engineering & Management Education: An Engine of Prosperity.
Classroom teaching must match with Boardroom needs!
From: Ramesh Vemuganti <vemugantiramesh@gmail.com>
Sent: Tue, 09 May 2017 11:12:25
To: join_mtc@googlegroups.com
Subject: Re: [MTC Global] EUPHORIA ABOUT BIG DATA
Superb mail on small data, Dr Surender Reddy. No one talks about them or makes a note in any organisation.
But they are so critical for the growth of an organisation.
Many companies have neglected check bouncing, stockout, customer complaints & negative media releases & lost out - either they went into red or closed down.
Positive small data is awesome. They will increase the profits, if practiced diligently.
Can these be applied to a MBA/ PGDM/ PG courses and Management institutions ? We can have a debate .
The takeaways by esteemed MTC luminaries will make them effective & enable the institutions & universities do well, henceforth.
regards
Prof Vemuganti Ramesh.
On 09-May-2017, at 4:25 AM, Surender Reddy Geedipalli <gsr123@gmail.com> wrote:Dear Friends & Fellow MTCians,In the context of ongoing euphoria about the big data, one should not underestimate the importance of small data.Given below are Illustrations of typical small data:Negative Small Data(i) the instances of check bouncing, (ii) the instances of stockout situations, (iii) the employee absenteeism/attrition, (iv) the compliance failures, (v) consumer complaints and product returns, (vi) the non-moving stock, (vii) investors' grievances/complaints, and (viii) negative media reportsPositive Small Data(i) cost reductions, (ii) repeat orders, (iii) new IPRs, (iv) employees' suggestions, (v) income from non-core business,(vi) the performance of the company's stock in capital market(s), (vii) product improvements, and (viii) positive feedback from stakeholders and new endorsementsKindly offer your comments and insights.Regards & cheers,Prof. G. Surender ReddyDean, SNIST, HyderabadM: 996 347 1515--
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